Nexxen International (NASDAQ:NEXN) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Nexxen International Ltd. (NASDAQ:NEXN) saw an uptick in trading volume on Monday after Needham & Company LLC raised their price target on the stock from $8.50 to $9.50. Needham & Company LLC currently has a buy rating on the stock. 119,397 shares changed hands during mid-day trading, an increase of 81% from the previous session’s volume of 65,815 shares.The stock last traded at $7.83 and had previously closed at $7.48.

NEXN has been the subject of a number of other research reports. Royal Bank of Canada upped their target price on Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Lake Street Capital raised their price objective on Nexxen International from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NEXN. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Nexxen International in the third quarter worth $31,000. Blue Trust Inc. boosted its stake in Nexxen International by 221.7% in the 3rd quarter. Blue Trust Inc. now owns 5,704 shares of the company’s stock worth $46,000 after purchasing an additional 3,931 shares during the period. Quadrature Capital Ltd purchased a new position in Nexxen International during the third quarter valued at $123,000. Marshall Wace LLP purchased a new position in shares of Nexxen International during the second quarter valued at about $136,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Nexxen International during the 2nd quarter valued at approximately $141,000. 54.24% of the stock is owned by hedge funds and other institutional investors.

Nexxen International Price Performance

The firm’s 50-day moving average is $7.86 and its two-hundred day moving average is $6.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $560.27 million, a P/E ratio of 187.00 and a beta of 1.86.

Nexxen International (NASDAQ:NEXN) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). Nexxen International had a negative net margin of 0.57% and a positive return on equity of 5.92%. The company had revenue of $88.58 million for the quarter, compared to analysts’ expectations of $85.75 million. During the same quarter in the previous year, the company posted $0.03 EPS. Analysts anticipate that Nexxen International Ltd. will post 0.55 earnings per share for the current year.

About Nexxen International

Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. The company’s demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats.